TransferWise opens initial American office

International money transfer platform TransferWise has opened their first U.S. office in Tampa, Fla.

Based on peer-to-peer technology, TransferWise saves customers money on international transfer fees because they pair people sending money out of a given country with those receiving money in that same country. Only the mid-market rate is charged, making TransferWise up to 10 times cheaper than other options.

That model has caught the attention of some heavy hitters in the fin-tech investment community. TransferWise has raised $91 million from Peter Thiel, Richard Branson, Max Levchin and Andreessen Horowitz, among others.

TransferWise was founded in 2011 by initial Skype employee Taavet Hinrikus and Kristo Kaarmann. More than $750 million is transferred through the platform each month, with customer savings estimated at $34 million.

Just under 50 employees have been hired. An additional 200 positions are planned within the next three years.

A two-time LendIt Journalist of the Year nominee and winner in 2018, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.

"The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."